Word: pinches
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Dates: during 1980-1989
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...Security, Medicare and payment of interest on the national debt, gobble up an increasing share of federal money. Many of these are entitlement programs for which Congress has passed laws establishing the level of benefits that each person receives. Indexing social programs so that recipients will not feel the pinch of inflation has made them still more expensive. In a maddening vicious circle, Social Security benefits increase because of inflation, causing higher federal spending, larger deficits and eventually more inflation. Then Social Security must be increased, starting the chase anew. Warns Budget Boss Mclntyre: "If we attempt to inflation-proof...
...nation's energy outlook does seem somewhat brighter than it did last autumn, when fears of heating oil shortages and a squeeze on gasoline supplies brought almost daily warnings from the Administration of a looming energy pinch. Increased conservation by homeowners, along with an unseasonably warm winter, have helped to reduce heating oil consumption. It has dropped by at least 10% from last year throughout the Northeast, the region that uses the most fuel. Even more important has been the drop in gasoline use. Last year prices rose 35%, to a current nationwide average of approximately...
President Carter's retaliatory measures will pinch but they are unlikely to punish the Soviet Union seriously.His principal move-the cutoff of grain sales-is a good show of short-term strength, yet its long-term value is arguable. Says Richard Kjeldsen, senior international economist for the Security Pacific National Bank: "I cannot think of a single unilateral embargo that has been effective. Nor can I think of an instance in the past when wheat-producing countries have actually got together to function in some concerted, cartel-like operation. An embargo on grain shipments is simply a very leaky...